Gulf Oil Lubricants Q4 results: Net profit down by 25% to Rs 35.94 crores
Gulf Oil Q4 results: It is one of the largest lubricant manufacturing companies in India. It is part of Gulf Oil Corporation and GOI. The company provides services in the Automotive and Industrial segment in the open market. However, the company supplies OEMs and B2B customers like Infrastructure, Mining & Fleet Customers, State Transport, etc.
Meanwhile, the company on Thursday reported its Q4 results for the financial year 2019-20. The companies net profit decreased by 25% to Rs. 35.94 crores in Q4FY20. While the company also reported its net profit of Rs. 47.44 crores in the same quarter last year. The main reason for this is due to the coronavirus lockdown in India.
Besides, the company also posted its net sales decreased by 17.54% to Rs. 359.68 crores. While the companies net sales in the same quarter last year stood at Rs. 436.20 crores.
In the financial year 2019-20, the company also posted its net profit increased by 13.92% to Rs. 202.52 crores as against Rs. 177.78 crores in the same quarter last year. The main reason for this growth is due to better margins and favorable tax rate cuts. The companies revenue decreased by 3.65% to Rs. 1,643.50 crores as against Rs. 1,705.80 crores in the same quarter last year.
Commenting on the results, Gulf Oil Lubricants said, the companies profit after tax (PAT) reported at Rs. 35.94 crores as against Rs. 47.57 crores YoY. While companies net revenue stood at Rs. 359.68 crores as against Rs. 436.20 crores in this quarter.
However, the Gulf Oil Lubricants on Thursday reported a bullish trend in the stock market. The company gained 8.15 points with a 1.31% increase and reached 628.95 INR. While in BSE, the company gained 5.70 points with a 0.92% increase and reached 627.00 INR.
Stock Market June 18:
On Thursday, both Sensex and Nifty continues its bullish trend in the stock market. The Sensex is trading above 34,000 levels, and Nifty is trading above 10,000 levels in the stock market. The Sensex gained 700.13 points with a 2.09% increase and reached a 34,208.05 level. While Nifty 210.50 points with a 2.13% increase and reached 10,091.65 level.
On the other side, the number of coronavirus cases in India reached 3,66,946 as of Thursday, June 18, and deaths reached 12,237.
In the border market, the S&P BSE SmallCap reported a bullish trend in the stock market on Thursday. It gained 177.19 points with a 1.48% increase and reached 12,110.72 level. The S&P BSE Midcap gained 131.66 points with a 1.05% increase and reached 12,673.04 level. While Nifty Bank gained 754.55 points with a 3.74% increase and reached 20,956.30 level.
Top Gainers on June 18: Bajaj Finserv, Coal India, Zee Entertainment, Bajaj Finance, and Vedanta are the top gainers in today’s stock market
Top Losers on June 18: ONGC, HUL, TCS, Bharti Airtel, and Bajaj Auto are the top losers in today’s stock market.